£20,000 is needed to restore the gravestone of Captain William Le Lacheur in London's Highgate Cemetery.
The Guernsey Society, which connects islanders around the globe, is behind the move to repair the grave in London's famous Highgate Cemetery.
They say it needs an estimated £20,000 of work to prevent it from collapse.
Captain William Le Lacheur was a trader whose Guernsey built ships opened up commerce between London and Costa Rica in central America.
He is well known in the central American country where there is a memorial to him and he is honoured with plaques in both Guernsey and at St Katherine's docks in London.
Keith Le Page is chair of the Guernsey Society and says Captain Le Lacheur is one of Guernsey’s great figures:
"Someone whose vision, compassion, and enterprise helped shape the future of another nation.
"His story deserves to be remembered, and his memorial preserved for future generations."
The head of Guernsey Museums, Helen Glencross, says they will support the initiative:
"Guernsey Museums recognises William Le Lacheur as an important islander who had an impact far beyond our island shores.
"With this in mind, Guernsey Museums are actively supporting the restoration of his headstone in Highgate Cemetery, and to encourage others to also support this important conservation."

Volunteers celebrate 20 years of restoring Guernsey WW2 bunkers
Aurigny raises concerns over impact of BA’s Guernsey–Heathrow flights
Channel Island musicians record Christmas song at Abbey Road
BA to operate Heathrow-Guernsey flights
13 cubic metres of invasive plant removed from Alderney beach
Guernsey's Lieutenant-General receives knighthood
Donations flood in to save Sark-born border collie with rare condition
Aurigny extends flight schedule up until early January